How to fund your travel dreams?
Work to Save Up
This one may sound obvious, but it’s easier said than done. It takes discipline to save up cash while at home. You need to devise a strategy and start spending less money. An easy way is to drink less and eat out less often. Packing a lunch for work and preparing meals at home is an easy way to save. And it’s healthier. Sublet a room in your apartment or take in a roommate to split the cost of your rent. Try cycling to work, or if you drive, start taking public transportation. Little by little, the savings will add up.
Take out a Loan
While I haven’t thought about this until recently, it is certainly a possibility. Why not take out a loan? It is now becoming more common to use loans to fund dream adventures. You will most likely be returning to your job once you return, so there won’t be any issues with paying it back.
Rent when you’re Gone
This option only works if you are a homeowner. You could put your apartment or house up for rent. Even if you can only pick up as little as $500 a month, this could be enough to support you in some of the world’s cheapest destinations. Sure, you’ll have someone living in your house, but it is wasted income if you leave the space empty. Better to have someone there taking care of the place anyway. Now with online banking and sites like PayPal, receiving money for rent is no problem either.
Work as You Go
Now with the internet, earning money as you travel is a feasible option for many. Many people have taken the digital lifestyle to the extreme and sold off everything back home and started their own business that they maintain while they travel. Some options include blogging or other web-based freelancing like design or writing. Teaching English is a more obvious one. A multitude of countries now offer teaching possibilities, many which don’t require a TESL certificate or prior experience. Many travelers even find employment at a hostel or hotel in a tourist town they find appealing. All are possibilities when your cash flow runs low.
There you have it, four great ways to fund you next travel adventure.
Remember, saving up and funding your travels is only half the battle. The other key is traveling smart and not spending too much while you’re actually on the road.